Port Harcourt — Rivers State Governor, Sir Siminalayi Fubara, says that his administration is on the move to ensure that numerous production factories that shut down operations in the State returned, because of his renewed commitment to re-industrialize the State.
” This was why we approved the Rivers State Economic and Investment Summit 2024 as the first of several measures to unveil the economic potential of the State to both local and foreign investors and markets,” said Fubara.
Governor Fubara spoke at the summit themed “Rivers Emerged: Pioneering Pathways to Economic Growth and Sustainability”, Governor Fubara, lamented that for years, the State depended more on allocations from the Federation Accounts to fund its expenditures because tax revenues had remained low due to poor investments and economic growth.
“It is for this reason that we, therefore, commit to the re-industrialization of Rivers State in partnership with the informal and organized private sectors through necessary policies, legal, and other support measures, and systems.”
Fubara recalled that historically, Rivers State, especially Port Harcourt, was an established commercial center in Nigeria.
“The Trans-Amadi Industrial Layout hosted several thriving commercial and industrial concerns that created income, jobs and prosperity for our state and our people.
” Sadly, all these are now history as most of these industrial ventures in that estate have either closed shop or either become moribund. We have since lost our status as one of the industrialized states,” he said.”